As part of its ongoing commitment to develop high quality international standards, the International Auditing and Assurance Standards Board (IAASB) of the International Federation of Accountants (IFAC) has issued an exposure draft (ED) proposing certain enhancements to its due process and working procedures. The ED also proposes to expand the present description of IAASB's due process and working procedures to reflect more fully the practices that are being followed.
In developing the proposal, the IAASB considered its current working procedures and the IFAC reforms*, and drew upon best practices followed by other standard setters. The enhancements are designed to increase confidence that the activities of the IAASB are properly responsive to the public interest and will lead to the establishment of high quality international standards.
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